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News & Commentary
Content tagged with Trading Technology posted in March 2013
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SAC Capital: When The Feds Came Knocking
Slideshows  |  3/29/2013  | 
Early on Friday March 29, federal agents arrested the portfolio manager of SAC, the largest hedge fund in the country. Will SAC Capital founder Steve Cohen, who just enjoyed a week of retail therapy which saw him snap up mansions and Picassos, be next to see the Feds come knocking? Here’s a timeline of events that have put SAC Capital at the center of an insider trading scandal.
Isn't HFT Getting A Little ... Nuts?
Commentary  |  3/28/2013  | 
In the HFT game, the number of big-time players seems to be thinning. What can firms do to capture a piece of the shrinking HFT pie?
Hedge Fund Titan’s Shopping Spree: Cohen’s $60M Bet on Hamptons Real Estate
Commentary  |  3/28/2013  | 
SAC Capital Advisors’ founder Steve Cohen purchased a home for $60 million with an ocean view in East Hampton last week, topping a frenzy of deal making amidst resolving a pending settlement of insider trading matters with the SEC.
Winton Capital’s Hedge Fund Closes Amid No Interest
News  |  3/28/2013  | 
One of the world’s largest hedge funds Winton Capital announced that its Henri Capital spinout will close after two years of trading due to a lack of clients.
Limit Up-Limit Down: Where’s the Limit?
Commentary  |  3/28/2013  | 
It seems like the Limit Up-Limit Down rule is a blanket oversight that fails to tackle the real issue around extraordinary market volatility, the rise of high frequency trading and rogue algorithms.
Why Market Participants Should Invest In Post-Trade Settlement Best Practices
News  |  3/28/2013  | 
Regulatory change can dramatically improve the global post-trade environment. But in the meantime, market participants need to embrace industry best practices.
U.S. Court Doesn't Rule on SAC Capital's SEC Settlement
News  |  3/28/2013  | 
A U.S. judge ended a hearing on the U.S. Securities and Exchange Commission's proposed $602 million settlement with a unit of SAC Capital Advisors without making a decision on whether to approve it.
Wall Street Retreats on Euro-Zone Concerns
News  |  3/27/2013  | 
U.S. stocks dipped on Wednesday as soft demand at an Italian debt auction kept concerns about the financial stability of the euro zone at the center of investor focus.
Nearly 50% of U.S. Financial Advisors Now Use Social Media Daily to Interact with Clients
News  |  3/27/2013  | 
Research from Accenture shows that currently advisors don't know their clients very well, but social media can help strengthen the relationship, experts say.
Three More Charged in Insider Trading Probe
News  |  3/27/2013  | 
Federal prosecutors announced criminal charges against three new defendants in the government's broad-based insider trading probe.
Omgeo adds Goldman, State Street and DTCC Executives to Board
News  |  3/27/2013  | 
Edward Hazel of Goldman Sachs, Richard Taggart of State Street Investment Management Services and Susan Cosgrove of DTCC Join Omgeo Board of Managers.
Self-Learning Algorithms: The New Frontier for Trading and Market Surveillance
Commentary  |  3/27/2013  | 
Self-learning techniques, such as machine learning or artificial intelligence, offer a potential route for smart algos to identify new trading patterns and can also be used to discover new patterns of market abuse.
HFT: Makings of an Evil Empire
News  |  3/26/2013  | 
Wall Street's reputation may be damaged, but don't blame all of the industry's woes on high-frequency trading.
EU Includes ISDA In Credit Derivatives Investigation
News  |  3/26/2013  | 
The International Swaps and Derivatives Association (ISDA) may have joined with investment banks to keep exchanges out of the credit derivatives market, European Union regulators said.
Mobile First Development Changing Trading Platforms in Forex Market
News  |  3/26/2013  | 
OANDA's newest mobile app responds to demands from mobile traders for functionality that matches or exceeds traditional desktop capabilities.
For The First Time In Decades, Investment Bankers See Pay Shrink
News  |  3/26/2013  | 
Average pay-per-head at U.S. and European investment banks has dropped compared to other sectors for the first time in a generation, according to new data.
SEC Approves Nasdaq Payback Plan for Botched Facebook IPO
News  |  3/26/2013  | 
UBS, Citi and others are not pleased with the $62 million settlement and may still sue.
Fed Pushes Banks to Ignore Rivals When Setting Bonuses
News  |  3/25/2013  | 
The Federal Reserve is pushing banks to ignore competitors' performance when awarding bonuses, and focus squarely on their own profitability.
The End of Indian IT Staffing As We Know It
News  |  3/25/2013  | 
India's IT outsourcers are promoting "mini CEOs" capable of running businesses on their own, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staff.
Ten Things Compliance Officers Need To Do In 2013
News  |  3/25/2013  | 
Last year financial firms put an almost unprecedented focus on risk, control and compliance. That trend looks set to continue as organizations deal with the fall-out of regulatory change, major fines, and more.
Columbia University Professor Analyzes HFT
News  |  3/22/2013  | 
Based on what it calls 'the first meta-analysis of HFT,' Columbia Business School Professor Charles Jones finds that high frequency trading benefits liquidity and lowers trading costs, echoing other academic studies.
Inside the World's Largest High Rise Data Center
Slideshows  |  3/22/2013  | 
A new 1 million square foot high-rise data center in an old Verizon switching building at 375 Pearl Street opened this week. Here is a view of some of its features -- in pictures.
Unlike Yahoo, Financial Services Companies Are Right To Embrace Telecommuting
News  |  3/22/2013  | 
According to Gartner, banking and the financial services is the second top sector after business services for telecommuting.
New Columbia Business School HFT Paper Is Disappointing
Commentary  |  3/21/2013  | 
The study by Charles Jones cite the usual benefits of HFT: enhanced liquidity and more efficient markets. But what about the conflicts of interest and order types designed specifically for the benefit of high frequency players?
European Bankers Get One Last Bonus Season Before EU Cap on Payouts
News  |  3/21/2013  | 
Bankers in Europe will have one final bonus season before they are barred from awarding themselves payouts worth more than their salary.
Captrust Financial Advisors Deploys Linedata Front Office Suite
News  |  3/21/2013  | 
The wealth management firm will manage its institutional equity and fixed income business through Linedata's consolidated platform covering portfolio management, trading, pretrade compliance and reporting.
World's Largest High-Rise Data Center Opens in Downtown New York City
News  |  3/21/2013  | 
At 1 million square feet, Sabey Corp.'s data center at 375 Pearl Street will provide data infrastructure services to New York's growing high-tech sector.
HFT: A Clear and Present Danger?
Commentary  |  3/21/2013  | 
In January 2013, Congressman Edward J Markey declared that HFT represents a clear and present danger and should be curtailed immediately. Is he right?
Derivatives Trading Revenue Rose 73 Percent in Fourth Quarter
News  |  3/20/2013  | 
Trading revenue at U.S. banks increased 73 percent last quarter, on a surge in trading of over-the-counter interest rate derivatives.
Shorter Settlement Cycles Coming to US?
News  |  3/20/2013  | 
The EU's move to T+2 will force the US markets to a shortened settlement cycle (SSC).
JPMorgan E-mails: "Stupid Quants"
News  |  3/19/2013  | 
When the London Whale's losses came to light, the higher-ups inside JPMorgan looked around to share the blame.
Computer Hacker Gets 3-1/2 Years for Stealing iPad User Data
News  |  3/19/2013  | 
A computer hacker was sentenced to three years and five months in prison for stealing the personal data of about 120,000 Apple iPad users.
Regulators Not Prepared for Financial Services Cloud and Mobile Adoption
News  |  3/19/2013  | 
Panelists at ISITC forum discuss the role of social and mobile in the financial enterprise, but lament regulators' lack of guidance.
What Need for Speed?
Commentary  |  3/18/2013  | 
So you think our modern market has fewer opportunities for gaming? Think again. A brief history of how someone can beat you in the market.
U.S. Top Court Won't Hear Goldman Class Action Appeal
News  |  3/18/2013  | 
Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against a class action lawsuit claiming it misled investors about the risks associated with mortgage securities.

Regs Investigate Whether High-Frequency Traders Are Distorting Markets
News  |  3/18/2013  | 
Regulators have launched an investigation into whether high-frequency traders are distorting stock and futures markets.
HFT Has Run Its Course In The U.S. Equity Market
News  |  3/18/2013  | 
High-frequency trading has blown through the business life cycle stages in five short years and is already on the decline.
LME Joins TMX Atrium Community
News  |  3/18/2013  | 
The world's leading non-ferrous metals exchange has become part of TMX Atrium's community, to gain access to investors involved with electronic, multiasset trading.
HFT Profits Shrinking? The Data Doesn't Lie
Commentary  |  3/18/2013  | 
Whether high-frequency trading is good for investors or bad, one fact that no one disputes is the drastic drop in HFT profits.
Ex-JPMorgan Exec Drew Says Not To Blame For 'Whale' Losses
News  |  3/15/2013  | 
A former top JPMorgan Chase official blamed traders and managers who reported to her for bets that led to $6 billion in losses for the bank, telling lawmakers on Friday that her team changed projected losses and hid important information from her.

Fed Tells JPMorgan, Goldman To Improve Capital Plans
News  |  3/15/2013  | 
In a blow to two major Wall Street banks, the Federal Reserve told Goldman Sachs and JPMorgan Chase that they must fix flaws in how they determine capital payouts to shareholders.
The NYSE Museum Will Soon Be Open
News  |  3/15/2013  | 
ICE's purchase of NYSE Euronext has nothing to do with the equities business, which may be on its way out the door.
Financial Industry Execs Express Frustration With Compensation
News  |  3/14/2013  | 
eFinancialCareers notes that the sell-side led the downhill race with a 10 percent decline in salary and a 24 percent decline in average earnings.
The 27-Year-Olds Are Taking Us Down (Again)
Commentary  |  3/14/2013  | 
The young financiers making the mistakes change but the flaws in the incentives and risk models at the heart of the global financial system remain basically unchanged.
Dimon Talks Cybersecurity With Obama
News  |  3/13/2013  | 
Part of the discussion will focus on getting C-level execs to take threats seriously.
Ending Too Big To Fail Still a Work in Progress
News  |  3/13/2013  | 
Reforms to the world's financial system still fall short of ensuring that big and systemically important banks will not need to be bailed out by governments if they fail.
Trading Technologies to Provide Connectivity to GovEx
News  |  3/13/2013  | 
Connectivity to GovEx through X_Trader will allow users to trade U.S. Treasury securities.
Sequester Chokes SEC, Regulator Funds
News  |  3/13/2013  | 
As the market burns up the DOW, the SEC and other regulators will see their budgets slashed during the sequester. What happens if the government shuts down?
Options Expands FX Connectivity for Quant Trading Firms
News  |  3/12/2013  | 
In response to customer requests, Options expanded connectivity to global FX markets and brokers from the NY2 and NY4 New Jersey data centers, and also upgraded the fiber route between New Jersey and Chicago.
New Opportunities For Hedge Funds
News  |  3/12/2013  | 
The door has opened for hedge fund admins — who, with few exceptions, continue to enjoy a view of the fund’s entire investment book — to offer new services traditionally provided by their prime broker.
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